Macedonian insurer Winner Life raises capital by EUR 1mn.

By bne IntelliNews March 21, 2013
Macedonian life insurer Winner Life said that it has increased its capital by EUR 1mn to EUR 4.3mn, a release on the website of the Macedonian Stock Exchange informs. The capital increase consisted of 1,000 new ordinary shares with a unit par value of EUR 1,000. The shares were acquired by the companys sole shareholder - Austria's Vienna Insurance Group. The hike is aimed at aligning the companys operations with the law on insurance supervision. In Jan-Sep 2012, five life insurers operated in Macedonia, posting combined premium revenue of MKD 369.6mn (EUR 6mn). Winner Life was the smallest player with premium revenues of MKD 6.2mn over the period. It should be mentioned though, that the life insurance segment grows fast, expanding by 20.4% on the year in Jan-Sep 2012.

Related Articles

Macedonias 2013 tobacco crop expected to exceed 30,000 tonnes.

Macedonias tobacco crop is expected to increase by 20% to over 30,000 tonnes in 2013, Utrinski vesnik daily reported quoting Danco Mileski, president of the countrys tobacco association. The ... more

Macedonia cancels tender for gas distribution network feasibility study.

The transport ministry has cancelled the tender for preparing a feasibility study for developing the countrys natural gas distribution network, build.mk portal reported. Reportedly, two bids were ... more

Komercijalna Banka wins Global Finance award Best Bank in Macedonia for 2013.

Large-sized commercial bank Komercijalna Banka announced that it has won the award Best Bank in Macedonia for 2013 by the magazine Global Finance. The Macedonian bank wins the award for a 10th ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335
Dismiss